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LOV anticipated to end up being the Meet Group’s Single Most Trafficked App

LOV anticipated to end up being the Meet Group’s Single Most Trafficked App

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  • Acquisition Projected to b st The Meet Group’s readers to significantly more than 15 Million Cellphone Monthly Active Users
  • Likely to Diversify The Meet Group’s Cellphone Revenue, A Lot More Than Doubling Overseas, Subscription, and In-App Buying Income
  • Likely to be Accretive to earnings that are non-GAAP Share in 2018 and past
  • Funded with current money and a growth regarding the Company’s Existing Debt Facility

brand new HOPE, Pa.–(BUSINESS WIRE)– The Meet Group, Inc. (NASDAQ MEET), a general public market frontrunner into the mobile conference area, today announced it’s performed a definitive contract to obtain LOV , a social dating app, for $70 million in cash, inclusive of the $5 million contingent earn-out. This purchase furthers The Meet Group’s technique to innovate, get, and build the greatest portfolio that is mobile of for fulfilling brand new individuals. The LOV acquisition is anticipated to grow The Meet Group’s international f tprint, b st the company’s scale and profitability, and diversify its business design with the addition of expertise in membership and purchasing that is in-app.

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LOV is just a social and technology that is mobile situated in Germany

  • The 1 Dating App in German speaking countries (Germany, Switzerland and Austria) with regards to of software store packages. Top 3 in Southern Europe (Italy, Spain and France)
  • Trailing twelve-month revenue of €27.2 million or $32.4 million predicated on present change rates
  • Diversified income streams Subscriptions 48%; In-app Purchases 24%; Ads 28per cent
  • Likely to express The Meet Group’s biggest app that is single regards to traffic
  • Roughly 5 million month-to-month active users (MAU) and 1.9 million day-to-day active users (DAU)
  • 47,000 brand new registrations that are global day
  • 97 employees that are full-time Dresden and Berlin
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